POGEY CONSENSUS: Employment picture in US darkens...The Other Shoe prepares

CONSENSUS SENTIMENT: NEGATIVE (Bull Market Indicator). The much anticipated US monthly employment report revealed that payrolls dropped by 4,000 in August, the first decline since August 2003. Approximately 4 out of 5 economists had forecast payrolls would increase by 110,000. However, the unemployment rate held steady at 4.6 percent as expected.

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